BEIJING--China's recently announced plan to enforce a 20% tax on profits from home sales won't make a big contribution to the effort to control property prices, State Counselor Li Qingyun said Tuesday.
Mr. Li, speaking on the sidelines of the annual session of the country's legislature, said the measure will curb home resales and could actually push up prices, at least in the short term.
China's State Council said Friday it would strictly enforce a 20% profit tax on home sales in order to prevent property prices from climbing higher. A recent upturn in prices, despite a three-year campaign to keep prices in check, has alarmed policymakers.
Existing regulations already call for a 20% tax on profits, but in many cases home resales are taxed at only 1%-3% of their sales value.
The measure, which will likely curb demand for existing homes, has hit shares of major property companies on the mainland and Hong Kong stock markets.
发表于 2013-3-5 03:42
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发表于 2013-3-5 09:28
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